FX.co ★ Actual patterns. Technical analysis and trading recommendations

According to the chart of M5, AUDCHF formed the Inverse Head and Shoulder pattern. The Head’s top is set at 0.5232 while the median line of the Neck is found at 0.5224/0.5229. The formation of the Inverse Head and Shoulder pattern evidently signals a reversal of the downward trend. In other words, in case the scenario comes true, the price of AUDCHF will go towards 0.5247

On the chart of AUDCHF M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.5230; the lower boundary 0.5223; the width of the pattern 7 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.5200 level.

According to the chart of M5, AUDCHF formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 0.5208 – 0.5208 and upper border 0.5213 – 0.5213. In case the upper border is broken, the instrument is likely to follow the upward trend.

According to the chart of M30, AUDCHF formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 0.5186/0.5201 and upper border is 0.5218/0.5201. The pattern width is measured on the chart at -32 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and AUDCHF breaches the lower border, the price could continue its move toward 0.5171.

According to the chart of M15, AUDCHF formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 0.5186 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -32 pips.